Top 10 P2P Lending Platforms in India 2025

Have you ever thought about borrowing money directly from another person, instead of going to a bank? That’s exactly what happens in P2P loans, also known as peer-to-peer loans.

P2P loans are a modern way to borrow and lend money online. Instead of using a traditional financial institution like a bank, people connect through special online platforms. These platforms act like a middleman and match borrowers with lenders.

With numerous P2P platforms available in India, selecting the right one can be challenging. Here, we highlight the top 10 P2P lending platforms in India, each offering unique features tailored to different lending and borrowing needs. From established players like Faircent and Lendbox to innovative entrants, these platforms have revolutionized the way Indians access and invest money, providing a viable alternative to traditional banking systems. Below is an overview of these leading platforms, focusing on their key features, benefits, and what sets them apart in the Indian fintech ecosystem.

How P2P Loans Work?

Here’s a step-by-step breakdown of how peer to peer (P2P) loans work:

Step 1: Borrower applies for a loan

A person who needs money goes to a P2P lending platform and fills out an online loan application. They mention how much money they need and for how long.

Step 2: Platform checks the borrower’s credit

The P2P platform checks the borrower’s credit score, income, and other details to decide whether they are eligible for the loan. Based on this, they assign a risk grade and an interest rate.

Step 3: Loan gets listed

Once approved, the loan request is shown on the platform. Now, investors (lenders) can see it and choose to lend money.

Step 4: Multiple investors fund the loan

Many lenders can contribute small amounts to fund the loan fully. For example, if someone wants ₹1,00,000, ten different lenders can each lend ₹10,000.

Step 5: Borrower receives the money

Once the loan is fully funded, the borrower receives the money in their bank account.

Step 6: Borrower repays monthly

The borrower repays the loan in monthly EMIs, which include both the principal and interest. The P2P platform collects the payments and distributes them to the lenders.

Why do people choose P2P loans?

• Lower interest rates for borrowers
  
• Better returns for investors (lenders)
  
• Quick and easy online process
  
• No need for banks

List of Top 10 P2P Lending Platforms in India

Below is a detailed overview of the top 10 P2P lending platforms in India.

1. I21 Funding:

i2i Funding is a peer-to-peer (P2P) lending platform operated by RNVP Technology Pvt. Ltd., registered as a Non-Banking Financial Company – Peer to Peer Lending Platform (NBFC-P2P) with the Reserve Bank of India (RBI). Established in 2015, it connects verified borrowers with individual lenders, offering an alternative to traditional financial institutions for both borrowing and investing.

Key Features for Borrowers:

• Loan Amounts and Tenure: Borrowers can secure unsecured loans ranging from ₹1,000 to ₹5,00,000 with repayment tenures between 3 to 12 months.
• Interest Rates: Interest rates range from 12% to 36% annually, based on the borrower’s credit profile.
• No Collateral Required: Loans are collateral-free, making them accessible even to individuals with low or no CIBIL scores.
• Flexible Repayment Options: Borrowers can prepay loans without penalties and manage repayments online through platforms like Shriram Finance or Bajaj Pay.

Key Features for Lenders:

• Investment Opportunities: Lenders can earn high returns by lending to multiple verified borrowers. The platform uses a proprietary credit scoring model that evaluates borrowers on over 40 parameters, beyond just their CIBIL scores.
• Risk Diversification: Lenders can diversify their investments across multiple borrowers to mitigate risks.
• Auto Lending: Automated lending options enable quick deployment of funds based on predefined preferences

2. LendBox

Lendbox is an Indian peer-to-peer (P2P) lending platform that operates as a non-bank financial institution (NBFC-P2P) licensed by the Reserve Bank of India (RBI). Founded in November 2015 and headquartered in New Delhi, Lendbox connects creditworthy borrowers with individual lenders, facilitating loans and investments directly between them without traditional financial intermediaries.

Key Features and Services:

• Peer-to-Peer Lending: Lendbox enables individuals to lend money to verified borrowers and earn returns higher than average fixed-income investments. Borrowers can access unsecured personal loans through a streamlined and transparent process.
• Creditworthiness Assessment: The platform uses advanced risk analysis, incorporating thousands of data points such as salary, expenditure trends, educational qualifications, and online spending behavior to create holistic credit profiles for borrowers. This allows individuals with lower CIBIL scores to access loans if deemed creditworthy.
• Investment Options: Lenders can diversify their investments across multiple borrowers to reduce risk. Fixed investment options offer annual returns of up to 13.99%, while flexible options provide up to 12% per annum.
• Paperless Process: Lendbox offers a fully digital experience with paperless KYC verification, borrower screening, and end-to-end legal and recovery support.
• Transparency: The platform ensures no hidden charges for borrowers or lenders, enhancing trust and convenience.

3. Cashkumar

Cashkumar is an RBI-licensed Non-Banking Financial Company (NBFC) specializing in Peer-to-Peer (P2P) lending in India. It operates as an online marketplace connecting individual borrowers and lenders, facilitating short-term personal loans. Here are its key features:

For Borrowers

• Offers unsecured personal loans ranging from ₹20,000 to ₹1.5 lakhs with tenures between 3 months and 1 year.
• Focuses on salaried professionals across 30 cities in India, including metros and Tier 1 cities.
• Loans can be used for various purposes like medical emergencies, marriage expenses, travel, home renovation, and debt consolidation.
• Application process is fully online with minimal paperwork, quick approval, and swift disbursal.

For Lenders

• Provides opportunities to invest in vetted borrowers and earn returns through monthly EMIs.
• Investment starts at ₹5,000, with high liquidity and tenures ranging from 7 to 28 days.
• Average annual return on investment (RoI) is approximately 12%.
• Utilizes a proprietary credit underwriting algorithm and integration with India Stack (Aadhaar, eKYC).

4. Finzy

Finzy is a peer-to-peer (P2P) lending platform based in Bengaluru, India. It connects borrowers seeking personal loans with investors looking for a new asset class that offers risk-optimized returns. Registered with the Reserve Bank of India (RBI) as an NBFC-P2P, Finzy provides borrowers with quick loans at competitive interest rates starting from 7.99% without collateral or prepayment penalties. Investors benefit from monthly returns and flexible tenures ranging from 12 to 36 months.

Founded in 2016, Finzy operates under the legal name Bridge Fintech Solutions Private Limited. The platform uses proprietary credit assessment algorithms to ensure secure lending by curating borrowers based on their creditworthiness. It has raised $4.3 million in funding, including $1.3 million in a pre-Series A round, which was utilized for technological advancements and geographical expansion across Tier I cities.

Finzy emphasizes transparency, simplicity, and customer-centric processes, aiming to provide consistent returns to lenders while maintaining low default rates.

5. IndiaP2P

IndiaP2P is a Peer-to-Peer (P2P) lending platform based in India. It acts as an intermediary, connecting borrowers who need loans with investors willing to lend money. The platform is regulated by the Reserve Bank of India (RBI) as a Non-Banking Financial Company-Peer to Peer Lending (NBFC-P2P).

Key Features of IndiaP2P:

• Investment Opportunity: IndiaP2P offers investors the chance to earn higher returns compared to traditional fixed deposits or savings accounts, with interest rates ranging from 12% to 36% per annum.
• Monthly Income: Investors receive monthly interest payments from borrowers, providing a steady stream of passive income.
• Diversification: Investors can spread their investments across multiple loans to mitigate risks and ensure a stable income stream.
• Target Borrowers: The platform focuses on lending to women and small business owners, providing them with access to credit.
• Regulation: Being RBI-certified ensures that the platform follows necessary guidelines, providing security and trust for investors.

6. Lendingkart

Lendingkart is a financial technology company based in Ahmedabad, Gujarat, India. It was founded in 2014 and specializes in providing working capital loans to small and medium-sized enterprises (SMEs) using advanced analytics and big data to assess creditworthiness. Here are some key aspects of Lendingkart:

Key Features

• Business Model: Lendingkart’s business model focuses on leveraging financial technology to streamline the lending process. It uses proprietary algorithms and machine learning models to evaluate the financial health of businesses, allowing it to extend credit to SMEs that might not have substantial credit histories.
• Value Propositions: The company offers easy access to collateral-free loans, fast loan approval and disbursement, flexible repayment options, and transparent interest rates. This approach helps in boosting financial inclusion for underserved businesses.
• Revenue Model: Lendingkart earns primarily through interest income on loans disbursed. It also levies service charges for processing applications and offers additional services like faster processing fees.
• Partnerships: The company partners with banks, financial institutions, credit bureaus, and data analytics firms to enhance operational efficiency and extend its reach.

7. Liquiloans

LiquiLoans is a peer-to-peer (P2P) lending platform operating in India’s financial technology sector. Founded in 2018 by Achal Mittal and Gautam Adukia, it aims to connect creditworthy borrowers with lenders, offering an alternative to traditional lending methods. The platform leverages technology to streamline loan disbursement and investment processes, providing borrowers with lower-cost loans and investors with higher returns compared to conventional financial products.

Key Features and Offerings:

• P2P Lending Model: LiquiLoans eliminates intermediaries like banks, allowing direct interaction between borrowers and lenders. It focuses on prime borrowers with high credit scores to minimize default risks.
• Loan Types: Offers various loans, including deposit financing, debt consolidation, credit card repayment, wedding loans, vacation loans, vehicle loans, and education loans. Many loans are available at 0% EMI options.
• Investment Opportunities: Investors earn returns of 8–10%, benefiting from diversified loan portfolios with low default rates. LiquiLoans has disbursed over ₹2,500 crore across 69,000+ investors.
• Technology Integration: Uses advanced verification processes and escrow accounts managed by independent trustees to ensure secure transactions.

8. Mobikwik extra

MobiKwik Xtra is a peer-to-peer (P2P) lending investment product offered by the Indian fintech platform MobiKwik in partnership with Lendbox, an RBI-regulated NBFC. It allows users to earn high returns of up to 14% per annum by lending money directly to creditworthy borrowers. This product aims to provide an alternative to traditional fixed deposits and other low-return financial instruments by offering higher interest rates and flexibility.

Key Features of MobiKwik Xtra:

• High Returns: Investors can earn up to 14% annual interest, depending on the duration of their investment. For example:
• 1 month: Up to 10% p.a.
• 3 months: Up to 12% p.a.
• 12 months: Up to 13% p.a.
• 24 months: Up to 14% p.a.
• Flexibility: There is no lock-in period, and users can withdraw their money at any time without penalties, making it highly liquid.
• Low Entry Barrier: Investments start at just ₹1,000, making it accessible for a wide range of users.
• Daily Interest Credit: Interest is credited daily, providing consistent returns.
• Automated Process: The platform offers a fully automated investment experience with no manual intervention required for investing or withdrawals.

9. Rupee Circle

RupeeCircle is a fintech company based in New Delhi, India, specializing in Peer-to-Peer (P2P) lending. Founded in 2016, it operates as a platform that directly connects creditworthy borrowers with individual investors seeking attractive returns on their investments. The company aims to promote financial inclusion by providing affordable loans to underserved and unbanked individuals while offering investors risk-adjusted returns through robust credit risk management and data analytics.

Key Features of RupeeCircle:

• P2P Lending Model: It facilitates a marketplace where borrowers list their loan requirements, and investors fund these loans directly, bypassing traditional banking intermediaries.
• Financial Inclusion: RupeeCircle focuses on extending credit access to first-time borrowers and underbanked populations in India.
• Technology-Driven: The platform leverages data science, big data analytics, and cloud infrastructure to evaluate loan applications and manage risks effectively.
• Regulated Entity: RupeeCircle is registered as an NBFC-P2P with the Reserve Bank of India, ensuring compliance with regulatory standards.
• Loan Products: It offers various loan types, including personal loans, business loans, and education loans, with flexible repayment options.

10. LenDen Club

LenDenClub is a peer-to-peer (P2P) lending platform based in Mumbai, India, founded in 2015 by Bhavin Patel and Dipesh Karki. It operates under Innofin Solutions and is registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI). The platform connects individual lenders with borrowers seeking short-term personal loans, offering an alternative financing model outside traditional banking systems.

Key Features

• P2P Lending Model: LenDenClub enables lenders to earn high returns (10-12% annually) by investing in short-term loans distributed among multiple borrowers using its AI-driven algorithm.
• Borrower Evaluation: Borrowers are meticulously assessed on over 200 parameters, including financial and social details, to ensure trustworthiness.
• Products: The platform offers investment plans such as the Fixed-Maturity P2P Plan (FMPP), allowing lenders to invest for fixed tenures ranging from 1 to 5 years.
• Digital Approach: LenDenClub employs a digital-first strategy for seamless transactions and portfolio management.

Conclusion

P2P loans are a smart option for people who need money and for those who want to invest. It’s all done online, with no banks involved. But like all financial products, both borrowers and lenders must understand the risks and read the terms carefully.

If you’re thinking of trying P2P lending, make sure to use an RBI-registered P2P platform for safety and reliability.

These top 10 platforms cater to diverse financial needs, offering opportunities for both lenders seeking high returns and borrowers requiring quick access to credit.

Disclaimer:

The information provided in this article on the top 10 P2P lending platforms in India is based on research and publicly available data as of April 2025. While we strive to ensure accuracy and reliability, financial trends and platform details may change over time. Readers are advised to conduct their own research and due diligence before using any P2P lending platform mentioned in this article.

Investing or borrowing through P2P lending involves financial risks, including the potential loss of principal amount invested. Each platform mentioned has its own terms, conditions, and risk assessment processes. It’s crucial to carefully review these factors and seek professional financial advice if needed before making any investment or borrowing decisions.

The inclusion of any platform in this list does not imply endorsement or recommendation by the author or any affiliated parties. We do not assume responsibility for any financial outcomes or consequences arising from the use of information provided in this article.

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